2023-09-08 00:00:41
© Reuters Cryptoasset risks require comprehensive policy and regulatory response, say IMF and FSB
A comprehensive political and regulatory response is needed to address the risks that cryptoassets pose to macroeconomic and financial stability, point out the International Monetary Fund (IMF) and the Financial Stability Board (FSB) in a report released this month. Thursday, 7.
The institutions argue that jurisdictions must safeguard monetary sovereignty, strengthen monetary policy frameworks, defend against excessive volatility of capital flows and adopt “unambiguous” tax treatment for cryptoassets.
“Comprehensive regulatory and supervisory oversight of cryptoassets can help address financial stability and financial integrity risks, while simultaneously supporting macroeconomic policies,” says an excerpt from the document.
The report further recommends that some jurisdictions, in particular emerging and developing markets, should take additional specific measures that go beyond the global regulatory base in order to address specific risks.
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